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CorEnergy Announces First Quarter 2019 Results
KANSAS CITY, MO - May 1, 2019 - CorEnergy Infrastructure Trust, Inc. ("CorEnergy" or the "Company") today announced financial results for the first quarter, ended March 31, 2019.
First Quarter Performance Summary
First quarter financial highlights are as follows:
 
For the Three Months Ended
 
March 31, 2019
 
 
 
Per Share
 
Total
 
Basic
 
Diluted
Net Income (Attributable to Common Stockholders)1
$
1,552,313

 
$
0.12

 
$
0.12

NAREIT Funds from Operations (NAREIT FFO)1
$
7,063,434

 
$
0.56

 
$
0.56

Funds From Operations (FFO)1
$
7,215,227

 
$
0.57

 
$
0.57

Adjusted Funds From Operations (AFFO)1
$
13,036,877

 
$
1.03

 
$
0.96

Dividends Declared to Common Stockholders
 
 
$
0.75

 
 
1 Management uses AFFO as a measure of long-term sustainable operational performance. NAREIT FFO, FFO, and AFFO are non-GAAP measures. Reconciliations of NAREIT FFO, FFO and AFFO, as presented, to Net Income Attributable to CorEnergy Stockholders are included at the end of this press release. See Note 1 for additional information.
Recent Developments
Declared common stock dividend of $0.75 per share ($3.00 annualized) for the first quarter 2019, in line with the previous 14 quarterly dividends
Portfolio Update
Grand Isle Gathering System: CorEnergy continues to work to overcome the refusal of the parent of the GIGS' tenant to furnish the Company with certain financial statement information. The tenant is required to provide this information under the terms of its lease and CorEnergy is required to file it with the SEC. The Company has taken legal steps to enforce the tenant's obligations under the lease and is engaged in dialogue with staff of the SEC to attempt to limit the impact of these matters on the Company's ability to use its SEC registration statements.

1

The following information was filed by Corenergy Infrastructure Trust, Inc. (CORR) on Wednesday, May 1, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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